Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Subordinated Debt

The following table sets forth the Company’s carrying and fair values of notes payable and subordinated debt as of December 31, 2023 and December 31, 2022:

	December 31, 2023				December 31, 2022
($ in thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Notes payable
Term loan	$	—	$	—	$	50,000	$	50,000
Revolving credit facility	50,000		50,000		—		—
Notes payable	$	50,000	$	50,000	$	50,000	$	50,000
Subordinated debt
Junior subordinated interest debentures	$	59,186	$	59,794	$	59,137	$	59,794
Unsecured subordinated notes	19,504		21,378		19,472		18,934
Subordinated debt, net of debt issuance costs	$	78,690	$	81,172	$	78,609	$	78,728

The following table summarizes the Company’s subordinated debt as of December 31, 2023 and 2022:

($ in thousands)	2023		2022
Junior subordinated interest debentures, due September 15, 2036, payable quarterly
Principal	$	59,794	$	59,794
Less: Debt issuance costs	(608)		(657)
Unsecured subordinated notes, due May 24, 2039, interest payable quarterly
Principal	20,000		20,000
Less: Debt issuance costs	(496)		(528)
Subordinated debt, net of debt issuance costs	$	78,690	$	78,609